By Markus Heitkoetter
Christmas came early for the bulls today. In almost a mirror image of yesterday’s trading, stocks opened the U.S. session higher, then moved sideways and wrapped up the day at new all-time highs.
Today the DOW closed above 18,000 for the first time ever! With a 65 point gain the DOW ended the trading session at 18024.17.
The S&P ended with just a 3.5 point gain. But today’s 2082.17 close was enough to update yesterday’s record book entry with a new all-time high.
It was another “typical” day of holiday trading. The E-Mini S&P stayed in a 7 point range during the U.S. trading session. The range was small and the indices didn’t trend well, but it was another nice day for strategies like the Ping Pong Strategy & Seahawk Strategy ahead of the holiday.
Markets will close early tomorrow, and they will be closed on Christmas Day, December 25th. Markets will be open on December 26th but you’ll find that most traders extend the holiday and aren’t very active on this day (we won’t be trading).
Walt Disney Company (DIS) is often touted as a stock to consider around the holidays. Recently DIS has turned around nicely with the overall market. Today DIS gave a PowerX Method Buy Signal for traders to consider. We’ll see if we get an entry according to our PowerX rules in the next 3 trading sessions.